Even as organisations are focussing on Artificial Intelligence, they are not prepared for AI agents yet, said Puneet Chandok, President of Microsoft India. To simplify, AI agents are software systems that use artificial intelligence to perform tasks.
Speaking at the Confederation of Indian Industries (CII) event in Delhi, Chandok said that the organisation is focussing on four key areas in terms of AI which includes awareness about AI, adoption of AI, investing in AI and having the right regulation with regards to AI.
The event also saw the launch of the 'AI Trends and Future Impact' report released by the CII and global consulting firm Protiviti. The report indicates that 55-60 percent executives feel that they are either limited or not prepared for AI adoption in terms of infrastructure, governance and cost point. It further highlights that 74% executives are already considering generative AI and LLM technologies. Further, it highlights that the finance sector is leading the race with 85 per cent AI adoption.
The report had a sample size of around 400 participants across sectors including manufacturing, agriculture, fintech and more.
It further highlighted that only 3 per cent of companies are not thinking about AI adoption which indicates a positive trend with regards to companies being open to AI adoption.
This comes at a time when the government has been placing greater emphasis on AI development. As part of this, the Union Budget has earmarked Rs 2,000 crore for the IndiaAI Mission, which is a significant contribution to the AI sector.
This Rs 2,000 crore funding constitutes almost one-fifth of the total Rs 10,370 crore allocated for the initiative. The mission which was launched in March 2024, aims to position India as a global leader in AI and ensure the widespread benefits of AI.
To add to it, with the intent to make India-specific AI foundational models, the government also invited proposals from Indian organisations as well as researchers. As per media reports, the Centre received at least 67 proposals for developing a domestic AI foundational model. This includes 20 proposals for large language models (LLMs).
